5.1 ERMUSR 11-8-2022 - Laserfiche WebLink

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��i Elk River Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Melissa Karpinski — Finance Manager MEETING DATE: AGENDA ITEM NUMBER: November 8, 2022 5.1 SUBJECT: Financial Report —September 2022 ACTION REQUESTED: Receive the September 2022 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric September's electric kWh sales are up from the prior year, 1%. For further breakdown: • Residential usage is down 3% • Small Commercial usage is down 2% • Large Commercial usage is up 5% Electric Operating Revenues for September of $4,492,336 are more than prior year by 12% and favorable to budget by 8%. September YTD is more than prior year by 10% and favorable to budget by 7%. The prior YTD variance and budget YTD variance is mainly due to PCA revenue of $2,874,065. Other Revenues of $165,884 are less than the prior year by 29% and unfavorable to budget by 21%. Other Revenues YTD are less than prior year by 4% but favorable to budget by 3%. The main driver of budget YTD variance is Contributions from Customers. Overall, Total Revenues of $4,658,220 are more than the prior year by 10% and favorable to budget by 7%. YTD is more than the prior year by 10% and favorable to budget by 6%. Purchased Power of $3,086,039 is more than the prior year by 27% and is unfavorable to budget by 5%. YTD is more than prior year by 17% and unfavorable to budget by 16%. YTD EAC charge is $3,269,544 more than prior year and $3,374,065 more than budget. EAC charge is partially offset by PCA revenue of $2,874,065. Administrative Expenses of $335,799 are more than the prior year by 19% and unfavorable to budget by 6%. YTD costs are more than the prior year by 5% but are favorable to budget by 2%. Page 1 of 3 45